You can, and the best option is to consult an expert broker who understands the process.

Quite often, the equity loan remains as is, and the mortgage is switched to a new lender. At this stage, you need to know what the LTV ratio is, to apply for the most competitive remortgage products.

If you have an H2B mortgage, you'll usually have paid at least a 5% deposit, with a loan of up to 20% of the property value. Most applicants have a repayment mortgage in place for the other 75% of the purchase cost.

Most mortgages have an initial period of between two and five years. After this period, you can choose to stick with your lender or remortgage elsewhere. 

Steps to Remortgaging Help to Buy:

1. Contact the Revolution Brokers team on 0330 304 3040.
2. We agree a convenient time to have a chat with an H2B mortgage expert.
3. They will recommend the best remortgaging options for you.
4. Your advisor will collate the documents and information, and make the remortgage application for you.
5. Help to Buy administrators charge an admin fee.
6. The property needs to have a valuation carried out, paid for by yourself if repaying a Help to Buy loan.
7. You receive your formal mortgage offer.
8. Once agreed and signed, your solicitor takes over, and switches your provider.
9. All done!

As an illustration:

• You bought a property worth £200,000, paying a 5% £10,000 deposit. You took out an H2B equity loan of 20% for £40,000, and have a mortgage for the other 75% at £150,000.
• Two years later, you have paid off £10,000 of the mortgage, and want to remortgage with a lower interest rate.
• Over the last two years, the property has increased in value to £215,000.
• Your new property value is £215,000, the equity loan is worth £43,000, the mortgage balance is £140,000, and you own £32,000 equity in your property.

In this scenario, a Help to Buy remortgage lender will see a 65% LTV loan, which is lower risk than the 75% LTV mortgage when you bought the property two years ago.

Therefore, you are very likely to achieve a cheaper remortgage rate and reduce your repayment costs.

Mortgage Guarantee H2B mortgages differ in that they consist of a 95% mortgage, without any equity loan element.

This scheme allowed lenders to buy a guarantee, protecting them from risk, up to 80% of the value of the property. Each guarantee lasts for seven years.

As Mortgage Guarantees were capped at 95% LTV, they won't tend to get as good remortgage rates as Help to Buy remortgages which will all be at 75% LTV or lower.

However, Revolution Finance Brokers work with a growing number of lenders offering 95% LTV remortgages, with rates becoming more competitive all the time.

Usually, the equity loan remains in place after you remortgage, or you can choose to repay it.

The equity loan attracts interest every year, from five years onwards, until it is repaid. If you choose to repay your equity loan partially, you will need to pay around £115 in administrative fees to Help to Buy.

You can repay your H2B equity loan, in full or in part, but the minimum repayment is 10% of the property value.

There is an admin charge of around £115 to repay some of the loan or a £200 cost for complete repayment.

Yes, you can release equity to repay an H2B loan, and use a remortgage to help you do so.

It is up to you - if you remortgage, you do not need to repay your Help to Buy loan. In some cases, it is better to repay more of your mortgage, rather than repay the loan, and certainly if you are in the first five years of the term.

If you are in year six of your H2B loan, you'll only be paying 1.75% interest, which increases annually.

Assuming your mortgage rate is higher, it is more cost-effective to keep repaying your mortgage, rather than use your funds to repay an equity loan charged at a lower interest rate.

The challenge is when retaining a Help to Buy equity loan, finding a mortgage lender who offers H2B remortgages.

There are a smaller number of lenders offering this sort of product, and refinancing can be more expensive. However, an experienced broker can negotiate competitive rates on your behalf.

Remember that if you keep your equity loan, the repayments will need to be included in your expenses when calculating your affordability levels.

If you have held your H2B loan for longer, and the interest rates are getting higher, it is often cheaper to repay this and pay mortgage interest rates on the lending. This all depends on your circumstances, the value of your property, and the remortgage rates available.

Here are indicative interest rates payable on Help to Buy loans within the first ten years of property ownership.